Descending channel pattern, BUY opportunity in EURCAD
The EURCAD pair has been moving in a descending channel pattern since 6th August 2019. Every time the pair tries to breach the lower trend line it is pulled back to the upper trend line. It can be noticed the pair is about to test the lower trend line of the channel. Trader can enter the buy position at 1.46380 level with first target at 1.47068. In case of follow through buying the next target for the pair will be at 1.47772. The stop loss is kept at 1.45945.
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